Two of Serie A’s most financially troubled clubs, AS Roma and Juventus, face off tonight. Both clubs have accumulated significant losses, highlighting the critical importance of participation in the UEFA Champions League. A successful run in this prestigious tournament can transform their financial landscapes.
Financial Decay: AS Roma and Juventus
In the last five years, AS Roma has incurred losses totaling €642 million, while Juventus has recorded an even more staggering €847 million deficit. No other club in Serie A has fared worse in terms of financial stability. In comparison, Inter and Milan reported aggregate losses of €472 million and €149 million, respectively. In contrast, Napoli posted a small profit of €11 million, and Atalanta achieved €154 million in positive earnings.
The Weight of Champions League
Participation in the UEFA Champions League is invaluable for these two clubs. This season’s earnings can significantly aid their desperate need for revenue. For instance, the revenue from the Champions League can provide substantial financial relief, as Napoli is projected to earn at least €50 million this season, despite an early elimination.
Investments and Adjustments
Since the arrival of owner Dan Friedkin in August 2020, AS Roma has faced the challenge of managing around €150 million in player salaries and €90 million in player amortizations. Despite these burdens, Friedkin has injected approximately €824 million into the club, including funds made available at the beginning of this season.
Meanwhile, Juventus has also seen significant financial involvement from its shareholders. Over recent years, Exor, the investment company of the Agnelli family, has contributed €446 million. When combined with other shareholder investments, the total reaches nearly €1 billion.
Path to Financial Recovery
Both clubs have enacted cost-cutting measures to reduce their financial losses. AS Roma managed to lower player salaries and amortizations by €80 million, while Juventus successfully implemented cuts totaling €150 million. These adjustments have led to significant improvements: Roma’s loss decreased from €219 million in 2021-22 to €58 million in 2024-25. Juventus experienced a similar decline in losses, dropping from €239 million to €58 million during the same period.
Looking Ahead
The outlook for both clubs appears to be stabilizing. Juventus aims for break-even status by the 2026-27 season, contingent on their continued participation in the Champions League and advancing to at least the Round of 16. The importance of this tournament cannot be overstated for AS Roma and Juventus. It not only provides financial rewards but also enhances brand value and player marketability, ultimately benefiting their overall revenue streams.
- AS Roma: Losses of €642 million over five years.
- Juventus: Losses of €847 million in the same timeframe.
- Comparison: Inter (€472 million) and Milan (€149 million) have lower deficits.
- Key Earnings: Napoli to earn €50 million from Champions League, signaling importance.
- Financial Support: Friedkin’s €824 million investment in Roma; Exor’s €446 million in Juventus.
Both clubs must continue to pursue Champions League qualification to secure their financial futures and achieve long-term stability.
